Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF)
(FRA:4XO) (“
Rover” or the
“
Company”) is pleased to report on the Phase 2
Exploration Program at its 100% owned Cabin Gold Project, NT,
Canada. The focus of the Phase 2 Exploration Program was to
discover and delineate new gold mineralized zones along the Bugow
Iron Formation, the controlling structure for gold at the Cabin
Gold Project. The Company is pleased to announce that its
exploration program has been able to confirm and expand the
historic gold grades at the Andrew South, Andrew Middle, and Andrew
North Targets. The expansion includes an increase to the historical
average gold grades reported across all of these historic targets.
Rover has grouped the north, middle and south bounds of Andrew into
a new single Andrew Zone, which extends 800 meters from south to
north at surface. The map of the Bugow Iron Formation on the
Company’s website has been updated to show the location of the new
Andrew Zone. The south end of the Andrew Zone is situated roughly
500 meters northeast of the Beaver Zone. The Beaver Zone was
featured in the Company’s December 7, 2021, release.
The
Company has now reported on the discovery of three medium-to-high
grade mineralized gold zones at Cabin: the Arrow, Beaver, and
Andrew Zones, all open at depth, and along strike.
Andrew Zone Expansion
Andrew South
The Company is reporting multiple near-surface
medium-to-high grade gold at the newly defined Andrew Zone which
extends 800 meters from south to north along the Bugow Iron
Formation. Highlights of Phase 2 drilling at Andrew South include:
new drill hole CL-21-21 which reported
2.9m of 5.09 g/t Au (from 70.65m to 76.8m),
including 2.2m of 6.42 g/t Au and deeper in hole
CL-21-21, reporting 4.7m of 3.38 g/t
Au (from 88.80m to 94.00m). As of the date of this
release, the Company has sent in additional samples for assaying
from hole CL-21-21, as the gold mineralization is recognized to
extend past the sulfide intervals of the drill core, which is a
first for the project. The new assays, once received, will be part
of a future updating release, and could extend the reported
high-grade gold intervals at the southern part of Andrew.
Additional highlights at Andrew include: new hole
CL-21-24 which reported 3.9m of 2.91 g/t
Au (from 51.00m to 55.12m); new hole
CL-21-19 which reported 3.1m of 2.57 g/t
Au (from 62.2m to 65.3m) and deeper in hole
CL-21-19 reporting 1m of 2.06 g/t
Au (from 93.3m to 94.3m); new hole
CL-21-20 which reported 0.4m of 6.11 g/t
Au (from 90.8m to 91.2m); and new hole
CL-21-25 which reported 2.3m of 2.61 g/t
Au (from 68.0m to 70.5m). As noted below, in the drill
result tables, there are multiple well mineralized drill intercepts
at the south part of the Andrew Zone that are reported in
additional new holes (see CL-21-22, CL-21-22, CL-21-23 in the
tables below). As of the date of this release, the Company has also
sent additional samples from hole CL-21-25 to the lab for
assaying.
Andrew NorthHighlights from drilling at the
northern part of the Andrew Zone include new hole
CL-21-27 which reported 4.3m of 4.14 g/t
Au (from 17.8m to 22.8m); new hole
CL-21-29 which reported 3.0m of 3.2 g/t
Au (from 37.6m to 40.8m) and multiple additional
medium-to-high grade gold intercepts at deeper depth from this same
hole, as reported in the drill result tables below. As of the date
of this release, the Company has sent additional samples to the lab
from hole CL-21-29. Additional highlights include new hole
CL-21-28 which reported 3.2m of 1.19 g/t
Au (from 38.8m to 42.8m).
The results, both confirm and expand upon, 1980s
historical drilling at Andrew, and have returned higher
grades than historical results. The historical drill holes
and new holes from Andrew South and Andrew North can be referenced
in the drill plan views below. A table of significant Andrew Zone
drill assay results, greater than 0.5 g/t Au, listed by hole and
interval, can be found near the end of this release. For purposes
of the calculations of the highlighted intervals in this release,
Rover considers results above 0.50 g/t Au to be of
significance.
Drill Plan View – Andrew Zone
(South)
https://www.globenewswire.com/NewsRoom/AttachmentNg/5471528e-1877-4826-a79f-6bcb67ff9103
CL-21-19/20 Cross SectionsCL-21-21/22
Cross SectionsCL-21-23/24/25 Cross
Sections
Drill Plan View – Andrew Zone
(North)
https://www.globenewswire.com/NewsRoom/AttachmentNg/89c4e560-a35e-4444-9045-a3dbe0be5329
CL-21-26 Cross SectionCL-21-27/28 Cross
SectionsCL-21-29 Cross Section
The Company’s working hypothesis is that the
near surface Andrew Zone extends 800 meters, from south to north.
There was significant drilling along the middle of the Andrew Zone
in the 1940s. Unfortunately, none of the historical drill records
have survived. The Company tested its hypothesis during its Phase 2
Exploration Program, by drilling two drill holes in the centre of
the Andrew Zone. As of the date of this release, the Company has
sent additional samples from both hole CL-21-30 and CL-21-31 to the
lab for assaying as the gold mineralization is recognized to extend
past the sulphide intervals in the drill core. The results from
Andrew middle will form part of an updating release.
Judson Culter, CEO at Rover Metals, states “We
are very pleased to have made the discovery of a third significant
zone at the Cabin Gold project. In total, there is over 1,000
meters of surface strike length, that is open along strike (Beaver)
and at depth (Arrow, Beaver and Andrew), across all defined zones
on the project (Arrow, Beaver and Andrew). We expect the 2022 Phase
3 Exploration Program at the Cabin Gold project to focus on the
highest grade gold areas of these zones.”
Tables of Significant Drill
Results
Hole |
Easting |
Northing |
Elev |
Total Depth |
Dip |
Azimuth |
Zone |
CL-21-19 |
559,189.00 |
7,006,213.00 |
181.7 |
100 |
-45 |
230 |
Andrew South |
CL-21-20 |
559,189.00 |
7,006,213.00 |
181.7 |
152 |
-60 |
230 |
Andrew South |
CL-21-21 |
559,189.00 |
7,006,213.00 |
181.7 |
130 |
-45 |
190 |
Andrew South |
CL-21-22 |
559,170.00 |
7,006,165.00 |
181.7 |
104 |
-45 |
190 |
Andrew South |
CL-21-23 |
559,170.00 |
7,006,165.00 |
181.7 |
53 |
-45 |
230 |
Andrew South |
CL-21-24 |
559,170.00 |
7,006,165.00 |
181.7 |
59 |
-65 |
230 |
Andrew South |
CL-21-25 |
559,202.00 |
7,006,198.00 |
181.5 |
101 |
-45 |
220 |
Andrew South |
CL-21-26 |
558,606.00 |
7,006,655.00 |
188.8 |
47 |
-45 |
85 |
Andrew North |
CL-21-29 |
558,606.00 |
7,006,655.00 |
188.8 |
50 |
-50 |
10 |
Andrew North |
CL-21-27 |
558,606.00 |
7,006,655.00 |
188.8 |
34 |
-45 |
55 |
Andrew North |
CL-21-28 |
558,606.00 |
7,006,655.00 |
188.8 |
47 |
-60 |
55 |
Andrew North |
CL-21-30 |
558,999.00 |
7,006,228.00 |
185.5 |
47 |
-45 |
220 |
Andrew Middle |
CL-21-31 |
558,999.00 |
7,006,228.00 |
185.5 |
26 |
-45 |
260 |
Andrew Middle |
Hole |
Sample ID |
From |
To |
Interval |
Au g/t |
Zone |
CL-21-19 |
V748041 |
62.20 |
62.76 |
0.56 |
6.24 |
Andrew South |
CL-21-19 |
V748042 |
62.76 |
63.00 |
0.24 |
1.1 |
Andrew South |
CL-21-19 |
V748043 |
63.00 |
63.29 |
0.29 |
0.88 |
Andrew South |
CL-21-19 |
V748044 |
63.29 |
63.59 |
0.3 |
1.96 |
Andrew South |
CL-21-19 |
V748045 |
63.59 |
64.00 |
0.41 |
4.19 |
Andrew South |
CL-21-19 |
V748046 |
64.00 |
64.35 |
0.35 |
2.73 |
Andrew South |
CL-21-19 |
V748047 |
64.35 |
64.68 |
0.33 |
0.37 |
Andrew South |
CL-21-19 |
V748048 |
64.68 |
64.98 |
0.3 |
0.94 |
Andrew South |
CL-21-19 |
V748049 |
64.98 |
65.32 |
0.34 |
1.02 |
Andrew South |
CL-21-19 |
V748058 |
93.32 |
93.64 |
0.32 |
0.71 |
Andrew South |
CL-21-19 |
V748059 |
93.64 |
94.00 |
0.36 |
3.67 |
Andrew South |
CL-21-19 |
V748060 |
94.00 |
94.3 |
0.30 |
1.56 |
Andrew South |
|
|
|
|
|
|
|
Hole |
Sample ID |
From |
To |
Interval |
Au g/t |
Zone |
CL-21-20 |
V748067 |
90.86 |
91.26 |
0.4 |
6.11 |
Andrew South |
|
|
|
|
|
|
|
Hole |
Sample ID |
From |
To |
Interval |
Au g/t |
Zone |
CL-21-21 |
V748071 |
70.65 |
70.98 |
0.33 |
0.76 |
Andrew South |
CL-21-21 |
V748072 |
70.98 |
71.3 |
0.32 |
0.35 |
Andrew South |
CL-21-21 |
V748073 |
71.3 |
71.61 |
0.31 |
6.98 |
Andrew South |
CL-21-21 |
V748074 |
71.61 |
72.03 |
0.42 |
3.89 |
Andrew South |
CL-21-21 |
V748075 |
75.31 |
75.61 |
0.30 |
17.6 |
Andrew South |
CL-21-21 |
V748076 |
75.61 |
76.00 |
0.39 |
10.4 |
Andrew South |
CL-21-21 |
V748077 |
76.00 |
76.42 |
0.42 |
2.23 |
Andrew South |
CL-21-21 |
V748078 |
76.42 |
76.8 |
0.38 |
0.48 |
Andrew South |
CL-21-21 |
V748087 |
92.23 |
92.93 |
0.70 |
2.78 |
Andrew South |
CL-21-21 |
V748088 |
92.93 |
93.33 |
0.40 |
1.77 |
Andrew South |
CL-21-21 |
V748089 |
93.33 |
94.00 |
0.67 |
2.67 |
Andrew South |
|
|
|
|
|
|
|
Hole |
Sample ID |
From |
To |
Interval |
Au g/t |
Zone |
CL-21-22 |
V748090 |
42.4 |
42.88 |
0.48 |
0.84 |
Andrew South |
CL-21-22 |
V748091 |
42.88 |
43.18 |
0.3 |
0.39 |
Andrew South |
CL-21-22 |
V748092 |
43.18 |
43.61 |
0.43 |
1.16 |
Andrew South |
CL-21-22 |
V748093 |
43.61 |
44.10 |
0.49 |
1.43 |
Andrew South |
CL-21-22 |
V748094 |
44.10 |
44.40 |
0.30 |
0.95 |
Andrew South |
CL-21-22 |
V748095 |
44.40 |
44.67 |
0.27 |
1.8 |
Andrew South |
CL-21-22 |
V748096 |
44.67 |
45.01 |
0.34 |
0.57 |
Andrew South |
CL-21-22 |
V748097 |
45.01 |
45.36 |
0.35 |
1.94 |
Andrew South |
CL-21-22 |
V748098 |
45.36 |
45.71 |
0.35 |
0.43 |
Andrew South |
|
|
|
|
|
|
|
Hole |
Sample ID |
From |
To |
Interval |
Au g/t |
Zone |
CL-21-23 |
V748117 |
41.98 |
42.44 |
0.46 |
0.89 |
Andrew South |
CL-21-23 |
V748118 |
42.44 |
42.75 |
0.31 |
0.52 |
Andrew South |
CL-21-23 |
V748119 |
42.75 |
43.15 |
0.40 |
0.80 |
Andrew South |
CL-21-23 |
V748120 |
43.15 |
43.90 |
0.75 |
1.05 |
Andrew South |
CL-21-23 |
V748121 |
43.90 |
44.30 |
0.40 |
1.88 |
Andrew South |
CL-21-23 |
V748123 |
44.30 |
44.62 |
0.32 |
0.52 |
Andrew South |
|
|
|
|
|
|
|
Hole |
Sample ID |
From |
To |
Interval |
Au g/t |
Zone |
CL-21-24 |
V748102 |
51.00 |
51.50 |
0.50 |
2.77 |
Andrew South |
CL-21-24 |
V748103 |
51.50 |
52.01 |
0.51 |
0.15 |
Andrew South |
CL-21-24 |
V748104 |
52.01 |
52.76 |
0.75 |
1.57 |
Andrew South |
CL-21-24 |
V748105 |
52.76 |
53.10 |
0.34 |
3.63 |
Andrew South |
CL-21-24 |
V748106 |
53.10 |
53.41 |
0.31 |
5.16 |
Andrew South |
CL-21-24 |
V748107 |
53.41 |
53.80 |
0.39 |
1.79 |
Andrew South |
CL-21-24 |
V748108 |
53.80 |
54.20 |
0.40 |
3.57 |
Andrew South |
CL-21-24 |
V748109 |
54.45 |
54.77 |
0.32 |
6.11 |
Andrew South |
CL-21-24 |
V748110 |
54.77 |
55.12 |
0.35 |
4.93 |
Andrew South |
|
|
|
|
|
|
|
Hole |
Sample ID |
From |
To |
Interval |
Au g/t |
Zone |
CL-21-25 |
V748125 |
53.00 |
53.45 |
0.45 |
1.64 |
Andrew South |
CL-21-25 |
V748126 |
63.95 |
64.25 |
0.30 |
0.73 |
Andrew South |
CL-21-25 |
V748127 |
65.42 |
65.88 |
0.46 |
1.72 |
Andrew South |
CL-21-25 |
V748128 |
65.88 |
66.18 |
0.30 |
0.22 |
Andrew South |
CL-21-25 |
V748129 |
66.18 |
66.58 |
0.40 |
2.16 |
Andrew South |
CL-21-25 |
V748130 |
67.09 |
67.39 |
0.30 |
4.01 |
Andrew South |
CL-21-25 |
V748131 |
67.39 |
67.76 |
0.37 |
0.41 |
Andrew South |
CL-21-25 |
V748132 |
68 |
68.35 |
0.35 |
0.50 |
Andrew South |
CL-21-25 |
V748133 |
68.35 |
68.68 |
0.33 |
0.64 |
Andrew South |
CL-21-25 |
V748134 |
68.68 |
68.98 |
0.30 |
1.59 |
Andrew South |
CL-21-25 |
V748135 |
68.98 |
69.68 |
0.70 |
4.27 |
Andrew South |
CL-21-25 |
V748136 |
69.82 |
70.12 |
0.30 |
1.07 |
Andrew South |
CL-21-25 |
V748137 |
70.12 |
70.46 |
0.34 |
5.55 |
Andrew South |
Hole |
Sample ID |
From |
To |
Interval |
Au g/t |
Zone |
CL-21-26 |
V748185 |
28.0 |
28.8 |
0.80 |
1.85 |
Andrew North |
CL-21-26 |
V748186 |
28.8 |
29.47 |
0.67 |
0.52 |
Andrew North |
|
|
|
|
|
|
|
Hole |
Sample ID |
From |
To |
Interval |
Au g/t |
Zone |
CL-21-27 |
V748139 |
17.83 |
18.20 |
0.37 |
0.57 |
Andrew North |
CL-21-27 |
V748140 |
18.2 |
18.52 |
0.32 |
6.32 |
Andrew North |
CL-21-27 |
V748141 |
18.52 |
18.83 |
0.31 |
2.44 |
Andrew North |
CL-21-27 |
V748142 |
18.83 |
19.11 |
0.28 |
9.2 |
Andrew North |
CL-21-27 |
V748143 |
19.11 |
19.47 |
0.36 |
4.1 |
Andrew North |
CL-21-27 |
V748144 |
19.47 |
19.79 |
0.32 |
1.64 |
Andrew North |
CL-21-27 |
V748145 |
20.00 |
20.33 |
0.33 |
1.06 |
Andrew North |
CL-21-27 |
V748146 |
20.33 |
20.75 |
0.42 |
14.65 |
Andrew North |
CL-21-27 |
V748147 |
20.75 |
21.03 |
0.28 |
1.81 |
Andrew North |
CL-21-27 |
V748148 |
21.25 |
21.61 |
0.36 |
0.78 |
Andrew North |
CL-21-27 |
V748149 |
21.92 |
22.40 |
0.48 |
3.48 |
Andrew North |
CL-21-27 |
V748150 |
22.40 |
22.84 |
0.44 |
2.64 |
Andrew North |
|
|
|
|
|
|
|
Hole |
Sample ID |
From |
To |
Interval |
Au g/t |
Zone |
CL-21-28 |
V748176 |
38.81 |
39.25 |
0.44 |
0.93 |
Andrew North |
CL-21-28 |
V748177 |
39.25 |
39.82 |
0.57 |
0.27 |
Andrew North |
CL-21-28 |
V748178 |
40.60 |
41.00 |
0.40 |
2.97 |
Andrew North |
CL-21-28 |
V748179 |
41.00 |
41.59 |
0.59 |
1.05 |
Andrew North |
CL-21-28 |
V748180 |
41.59 |
41.97 |
0.38 |
0.31 |
Andrew North |
CL-21-28 |
V748181 |
41.97 |
42.36 |
0.39 |
2.63 |
Andrew North |
CL-21-28 |
V748182 |
42.36 |
42.79 |
0.43 |
0.71 |
Andrew North |
|
|
|
|
|
|
|
Hole |
Sample ID |
From |
To |
Interval |
Au g/t |
Zone |
CL-21-29 |
V748153 |
37.60 |
38.00 |
0.40 |
2.72 |
Andrew North |
CL-21-29 |
V748154 |
38.00 |
38.40 |
0.40 |
4.75 |
Andrew North |
CL-21-29 |
V748155 |
38.4 |
38.70 |
0.30 |
1.18 |
Andrew North |
CL-21-29 |
V748156 |
38.70 |
39.10 |
0.40 |
4.83 |
Andrew North |
CL-21-29 |
V748158 |
39.37 |
39.71 |
0.34 |
1.31 |
Andrew North |
CL-21-29 |
V748159 |
39.71 |
40.09 |
0.38 |
5.61 |
Andrew North |
CL-21-29 |
V748160 |
40.09 |
40.39 |
0.30 |
4.43 |
Andrew North |
CL-21-29 |
V748161 |
40.39 |
40.82 |
0.43 |
0.60 |
Andrew North |
CL-21-29 |
V748162 |
41.70 |
42.01 |
0.31 |
1.48 |
Andrew North |
CL-21-29 |
V748165 |
42.97 |
43.37 |
0.40 |
0.92 |
Andrew North |
Technical information in this news release has
been approved by David White, P.Geo., Technical Advisor of Rover
and a Qualified Person for the purposes of National Instrument
43-101.
Stock Option Grant to
AdvisorThe Company has made a stock option grant of
350,000 stock options to Robert Schafer, an advisor to the Company.
The stock options have an exercise price of $0.06, vest monthly
over 12 months, and have a four-year useful life. Mr. Schafer has
nearly 40 years of experience in the mineral industry, working in
the international sector with both major and junior mining
companies. He is founder and Managing Director of Eagle Mines
Management, a globally active private natural resources
corporation. He has held executive and senior management positions
with Hunter Dickinson Inc., Kinross Gold Corp., and BHP Minerals
over the past 20 years. Throughout his career Mr. Schafer has
worked internationally, with notable experience in the far east of
Russia, Southern Africa, South America and Australia.
About Rover MetalsRover is a
precious metals exploration company specialized in North American
precious metal resources, that is currently advancing the gold
potential of its existing projects in the Northwest Territories of
Canada (60th parallel). The Company commenced Phase 2 Exploration
at its 100% owned Cabin Gold Project in the summer of 2021, and the
analysis and reporting of the Phase 2 Exploration work at Cabin
Gold continues through to the date of this release.
You can follow Rover on its social media
channels:Twitter: https://twitter.com/rovermetalsLinkedIn:
https://www.linkedin.com/company/rover-metals/Facebook:
https://www.facebook.com/RoverMetals/for daily company updates and
industry news, andYouTube:
https://www.youtube.com/channel/UCJsHsfag1GFyp4aLW5Ye-YQ?view_as=subscriberfor
corporate videos.
Website:
https://www.rovermetals.com/
ON BEHALF OF THE BOARD OF DIRECTORS “Judson
Culter” Chief Executive Officer and Director
For further information, please contact: Email:
info@rovermetals.com Phone: +1 (778) 754-2617
Statement Regarding Forward-Looking
InformationThis news release contains statements that
constitute "forward-looking statements." Such forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause Rover's actual results, performance or
achievements, or developments in the industry to differ materially
from the anticipated results, performance or achievements expressed
or implied by such forward-looking statements. Forward-looking
statements are statements that are not historical facts and are
generally, but not always, identified by the words "expects,"
"plans," "anticipates," "believes," "intends," "estimates,"
"projects," "potential" and similar expressions, or that events or
conditions "will," "would," "may," "could" or "should" occur. There
can be no assurance that such statements prove to be accurate.
Actual results and future events could differ materially from those
anticipated in such statements, and readers are cautioned not to
place undue reliance on these forward-looking statements. Any
factor could cause actual results to differ materially from Rover’s
expectations. Rover undertakes no obligation to update these
forward-looking statements in the event that management's beliefs,
estimates or opinions, or other factors, should change.
THE FORWARD-LOOKING INFORMATION
CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE
COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS
SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE
IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON
THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT
TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY
PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE
LAWS.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS
REGULATION PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE
TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF
THIS RELEASE.
Rover Critical Minerals (TSXV:ROVR)
Historical Stock Chart
From Sep 2024 to Oct 2024
Rover Critical Minerals (TSXV:ROVR)
Historical Stock Chart
From Oct 2023 to Oct 2024